Karin Gilges

The most important thing or the philosophy of Bosch is we try to do local for local. Therefore, volumes are much more important than an FTA or import duties whatsoever.

We see an impact. We see inventory coverage until end of August. We are working on several options.

We are screening, of course, all the PLIs constantly. Currently, as Ko already mentioned, this plant is not ready for the PLI, but we are screening all the time.

We have a very good plan to go further ahead with the productivity, etc. So therefore, you have some time to make some adjustments. But this is not a beginning of everything.

It's a mix. This month, we had favorable product mix on the one side. But, of course, we are going ahead with the localization, and step by step, we see what we implement here in India.

We did now the first step, coming back to a double digit, which was very important for us, and we do everything to keep this double digit.

Localization is key also in the, as you rightly said, third-party supplier development, as well as in our own plant. Therefore, there is no change.

We are talking about a mid-term. So we are going ahead, but doing a localization with all the quality releases, with the cross-checks, with the customers releases, et cetera, and this is also quite complex technologies.

If you look at the margins in the ICE business for manufactured goods here in India, we are seeing actually that we have for the self-manufactured goods, quite good margins on the market.